What is one primary role of a broker in a real estate transaction?

A primary role of a broker in a real estate transaction is to oversee the activities of affiliated licensees. Brokers are responsible for providing guidance, support, and supervision to the agents who work under them, ensuring that all real estate transactions adhere to applicable laws, regulations, and ethical standards. This supervisory role not only helps to maintain professional standards within the brokerage but also protects both clients and the brokerage from potential legal issues that may arise from improper practices.

While managing property directly, handling client payments, and negotiating property prices are important tasks within the real estate industry, they typically fall under the responsibilities of property managers, agents, or other specific roles within the real estate transaction process. The broker's overarching responsibility includes ensuring that their team operates effectively and complies with legal and regulatory requirements, which is essential for maintaining the integrity of the real estate profession.